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I am self employed and I have a part time job, how do I go about choosing a filing method?

 
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Patrice
New Member

I am self employed and I have a part time job, how do I go about choosing a filing method?

You can choose TurboTax Deluxe  https://turbotax.intuit.com/personal-taxes/online/deluxe.jsp it will handle a limited Schedule C, which is the minimum you will need to report this "self-employment" income (income from 1099-K or MISC are considered self-employment). It will also handle very basic deductions such as standard vehicle mileage, cell phone, and miscellaneous expenses less than $100.

You should start with Deluxe, then the program will prompt you to upgrade if you start to deduct anything that goes beyond what the Deluxe package will handle.       

To enter your self-employment income, start under Wages & Income > 1099-Misc and Other Common Income > Income from 1099-Misc. Enter the income reported to you as if from 1099-Misc (Box 7)  and indicate that you may also have income for 2016 from the same source. This will allow you to enter expenses (car mileage, cell phone, and up to $100 in expenses).

or

You can choose TurboTax Home & Business  https://turbotax.intuit.com/personal-taxes/cd-download/home-and-business.jsp (desktop version) or TurboTax Self-Employed https://turbotax.intuit.com/personal-taxes/online/self-employed.jsp (online version)

Each of these TurboTax products will help you answer simple questions about your life and we'll personalize your experience to help you get every credit and deduction you deserve.

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